The Public Provident Fund (PPF) scheme of an ICICI Bank is a major investment for the yields great returns and has tax advantages. You can invest a single financial year from Rs. 500 to a maximum of Rs. 1,50,000. The PPF has a locking period of 15 years, but anybody can partially withdraw from the seventh year and beyond.
PPF schemes are great financial tools to teach people’s saving habits. India’s government has expanded the PPF schemes for post offices to nearly all the country’s for a major bank. So the more people and more people can access the PPF scheme. Bank PPF schemes have made transactions with their PPF accounts easier and more convenient for customers.
What is ICICI PPF Calculator?
ICICI PPF calculator is an excellent online tool for estimating how much you want to invest annually in the amount of money you expect to receive at the end of 15 years. Also, people should get an accurate knowledge of your investment and returns makes it easy for you to evaluate your financial capacity and plan your finances accordingly.
The PPF calculator takes into account parameters such as annual investment and the current interest rate of the PPF and then calculates the final amount you pay and receive at the end of the PPF tenure.
How to use ICICI PPF Calculator?
- Fixed yearly amount: You can utilize this mode on the off chance that you need to rapidly assess how much return it could acquire on the off chance that I contribute x measure of cash every year for the following 15 years.
- Fixed monthly amount: You can utilize this mode on the off chance that you need to rapidly assess how much return I ought to acquire on the off chance that I contribute x measure of cash every year for the following 15 years.
- Variable yearly amount: We don’t invest the same amount of money each year in most cases. You will probably enter diverse cash for every year on the off chance that you select this mode. You can also assume / estimate how much interest rate there should be in the future.
- Variable monthly amount: The calculation level is exceptionally cutting-edge and definite. By providing detailed monthly wise investment, you can estimate your return maturity amount here.
Features of ICICI PPF Calculator
- You will know your investment’s maturity date. You will likewise get data about the amount you will gain after this measure of time, so you can design better in the event that you have incomplete withdrawal as a primary concern.
- The interest rates of PPF vary from year to year. In this way, for individuals who have contributed before, they just need to choose the beginning year, and their development sum is determined to utilize the fitting financing cost.
- Deposits can be used in 12 transactions.
- The loan may use between the 3rd and 6th financial year.
- Partial withdrawal facilities may use from the 7th financial year onwards.
- The account may extended in a block period of 5 years after maturity.
- Deposits to Public Provident Fund (PPF) Accounts may be in the form of cash, check online transfer of funds from ICICI Bank Savings Account and Funds.